Lunchtime ASX small cap wrap: who’s grinning and who’s not
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Here are the key ASX small cap gainers and losers at 12.30 AEDT.
The ASX Small Ords was down 24.6 points at 2699.
IN THE GREEN
Mouthguard maker Impression Healthcare (ASX:IHL) led the gainers at lunch, up 33 per cent to trade at 4c.
The company’s new director Peter Widdows is making his first moves in the role.
The former Heinz chief brings to the company experience in the fast moving consumer goods market — which IHL says will complement its strategy to “aggressively promote our developed suite of products”.
Security services play MSC Services (ASX:MSG) was up 31 per cent at 12.30pm AEDT.
MSC — which provides security at big commercial property sites and shopping centres in WA — recently reported $9 million in revenue for the last half and a $293,779 loss.
More money in the kitty for Metminco (ASX:MNC) has spurred its share price up 30 per cent to 1.3c.
Metminco told investors it had raised $152,000 from sophisticated and professional investors at an issue price of 0.8c.
Lindian Resources (ASX:LIN) was trading up 21 per cent at 1.7c on no news.
Earlier this month the company gave an update on its Lushoto Exploration — telling the market drilling would start at the end of the rainy season when tenements were formally granted, expected next month.
Positive news from the NT fracking inquiry has seen a boost to Empire Energy’s (ASX:EEG) trading.
The company was up 16 per cent to trade at 2.1c at lunch.
The Inquiry found that — if all its recommendations were implemented in full — the risks associated with fracture stimulation of unconventional reservoirs could be adequately managed, and in some cases eliminated.
Thats good news for its 100 per cent owned subsidiary Imperial which has over 14.5 million acres in the McArthur and Beetaloo Basins, Northern Territory – both of which are considered highly prospective for large shale oil and gas resources.
IN THE RED
An “oustanding” pre-feasibility study from Ardea Resources (ASX:ARL) did little to excite investors in morning trade. The stock slipped 18 per cent to trade at $1.41.
Ardea told investors the study had confirmed the economic viability of its nickel and cobalt opportunity in WA with a 1 million tonne per year base case over an initial 25 year mine life.
Ardea said its Goongarrie reserve was less than 5 per cent of the total Kalgoorlie Nickel Project (KNP) resource, and could potentially be scaled up.
Strategic Elements (ASX:SOR) fell 14 per cent to trade at 5.2c on no news.
Its last project update in February told investors there was virgin ground waiting to be tapped for conglomerate gold.
Southern Hemisphere Mining (ASX:SUH) slipped 14 per cent to trade at 6c on no news.
The company said it was scoping out new opportunities in its half yearly report — to add to its existing projects in the Pilbara and in Chile.
Smart locker tech TZ Limited (ASX:TZL) fell to a 52-week low of 16c.
Last week a $2.7 million deal with Ricoh South Africa buoyed its share price to 18c.
Labour hirer The GO2 People (ASX:GO2) fell 13 per cent to trade at 12.5c.
It comes after the company was awarded camp expansion works earlier this month.